Trend BOTH side depends on Oil. H4 candle short term sells towards support 1.4080. 🛑SUPPORT/RESISTANCE ✅S1= 1.4120 ✅S2=1.4070 ✴️R1=1.4180 ✴️R2=1.4265 Please like, share, comments and follow me to get daily base analysis Thank you for your support, I appreciate it.
Expecting prices to test again the historic bottom. Trade duration 2-3 weeks.
With current market conditions, oil is headed towards the $17.65 mark almost unhindered. Extrapolating the previous resistance lines of the past few trading sessions provides a very useful hint of where it's headed and when.
Will Oil Prices Bottom at $17?
Oil is looking VERY INTERESTING. We have a potential inverted head & shoulders on our hands. We could be seeing another drive to the upside to potentially retest resistance of 30. Potential longs soon!
Inverted wedge on 15 minute now into US session breakout pending No upside after the record breaking OPEC cut and release of the Saudi prices for may. Goldman and Emirates say cut not significant. Support at 22.80 Short-term resistance at 23.20
Another upcoming potential oil drop next few days
looks like decision time for WTI, the Daily wedge is about out of time & $19 base has been tested and support seems to be established. A break back to the 200 ema on D1 would be a massive move for the oil sector and return the markets to normal business as usual levels
Two scenarios drawn out for OIL and they're both painting the path to $50-$57.
The recent collapse in Crude Oil prices have been mirrored with falls in Bitcoin. Bitcoin is one of the methods the sanctioned Iranian state circumnavigates US sanctions. A sharp fall in Crude, lead to a sharp fall in Bitcoin support by the Iranian state.
OIL SELL TP_17.62_34.01%_9.08pips_SL_28.21_5.66%_1.51pips
Good chance at firing long here for a potential long term position trade. Wonder how many stops can get hunted on a false break to the down side.
Oil prices have plunged this year, as supply has jumped and demand has plummeted. They are down more than 50% just this month. On Monday, they took a new leg down, with West Texas Intermediate crude futures temporarily falling below $20. The last time Texas oil settled below $20 was in 2002. Smart EngineeringRobo traders know when to enter when to exit...
Oil is been rejected from resistance line at $28, now oil will retest the $22, is a double bottom, so let's see how interact with the support line. It could be a potential breakout to the downside. MACD and SRSI pointing down. Also oil price could be affected by the news, so please be careful and also use SL, especially when you use leverage. also your...
What a bloody day and more to come. A lot of people might ask why? And How That's possible? Is this a bullish sign? Are they gonna pump it out? Moon!? The answer of all of these questions are a simple "No"! But why? First, institutional moneys from both big investors and governments are moving to safe haven in order to keeping them away from loss or less Second,...
The more it waits at these levels of prices, the greater the negative perception of it to the 20$ per barrel, and from there we will see great support levels that see it as it is currently at least. And the basics don't say that there is a solution to the oil war in the short and medium term, and knowing that this war began with Russia’s refusal to reduce its...
Beyond the trend in the chart: The fallout between OPEC+ members will hammer the price down. Saudi Arabia already offers steep discounts to carve more market share and there's even talk about ramping up production to 12m bpd Russia on the other hand is refusing to cut and prefers to wait until June to say how the world demand changes in response to the COVID